SCOR
French reinsurer founded in 1970, listed on Euronext Paris: one of the world's major reinsurers, active in property-casualty and life, which grew by buying Revios in 2006 and Converium in 2007.
SCOR is created in 1970 under the name Société Commerciale de Réassurance, at the initiative of the Ministry of the Economy, to give the Paris market a reinsurer able to keep in France part of the reinsurance premiums that were leaving the country. It becomes a listed company in the early 1990s and expands by acquisitions: the German life reinsurer Revios in 2006 and the Swiss reinsurer Converium in 2007 make it a global player, with headquarters in Paris and offices in Switzerland, Cologne, Singapore and the United States. It operates in property and casualty reinsurance (SCOR Global P&C) and in life and health reinsurance (SCOR Global Life), and in investment. It counts among the world's major reinsurers. In 2018, the insurer Covéa offered to buy it for a little over eight billion euros, an offer SCOR's board refused as undervalued and unsolicited. For a French cedant, SCOR is a natural partner for property and life treaties, a player in longevity and mortality, and an active participant in cyber reinsurance and emerging risks. Its internal model is approved for the calculation of its SCR.
Textbook case. A French mutual places a 40% death quota share treaty on a portfolio of mortgage loans. SCOR takes 30% of the treaty's quota share, or 12% of the portfolio, and sets a reinsurance commission of 28% with a profit share. If observed mortality stays below the tables, the sliding commission rises to 32%, to the cedant's benefit.
SCOR, SCOR SE, French reinsurer SCOR, SCOR Global P&C, SCOR Global Life
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